GM Frens ? It was an exciting week for AlphaBack.xyz. We won a hackathon and found an elegant solution to airdrop USDC to users.
A quick about us in case you’re new here:
AlphaBack is building a browser extension that pays users to look at NFTs (ads), with the goal of building a DAO owned ad-network.
People hate ads, and advertisers know that. But ads are not going away. In a world where users can choose between (A) look at ads and get $0 or (B) look at ads and get $255 per year from AlphaBack, we strongly believe that users will choose (B) and install our browser plug-in.
On top of monetary incentives, we give users power over their advertising experience, enabling them to give more or less of their data in exchange for more or less payment.
OK, let’s jump into the weekcap for July 10–17:
- Won Hackathon! AlphaBack won 2nd place and a $5,000 prize in the Encode x Polygon Hackathon. Next, we’re competing in the HackFS competition, where we may win up to $100,000 in prizes.
- Payment Solution. In a past retro, we noted how expensive it can be to airdrop USDC to 100K users – even on inexpensive L2 chains, like Polygon. We now have an elegant solution, where we maintain a running balance per user using read requests and an index of their last withdrawal, rather than updating state variables per user balance.
- Phase 2 Investor Meetings. We’re now in phase 2, aka “Investment Committee Meetings,” with several investors. We’re also getting more inbound interest via the Stonks deal room. We’re focusing on cap table composition, optimizing for investors who can help with tokenomics, DAO setup, access to NFT influencers, and/or ad:tech connections.
- Delayed Release. We found a bug during our pre-release QA, which delayed our deployment. We’re targeting July 20 for the next code release.
How You Can Help
- We have an updated list of investors who’d be interested in meeting us given their web3 thesis and portfolio. LMK if you have any inroads here:
- Ameet Shah @ Golden Ventures
- Paul Murphy @ Lightspeed
- Josh Fraser @ Origin Protocol
- Asher Devang @ AlphaGrep
- David Aranoff @ FlyBridge Capital
- Vivek Sodera @ Superhuman
- Edith Yeung @ Race Capital
- Jenny Lefcourt @ Freestyle Capital
- Patrick Chang @ Dispersion Capital
- Jules Miller @ Mindset Ventures
- Brett deMarrais @ Ludlow Ventures
Thanks again for your ongoing support ?
And remember to install the Browser Extension today!